Kodiak AI (NASDAQ:KDK) Sets New 52-Week Low – Time to Sell?

Kodiak AI, Inc. (NASDAQ:KDK) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.76 and last traded at $3.79, with a volume of 856676 shares traded. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KDK shares. Chardan Capital dropped their price objective on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Craig Hallum assumed coverage on shares of Kodiak AI in a report on Monday, June 15th. They set a “buy” rating and a $12.00 target price on the stock. Northland Securities set a $11.00 price target on shares of Kodiak AI in a research report on Monday, May 11th. Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Weiss Ratings downgraded Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Kodiak AI Trading Down 3.8%

The stock has a 50-day simple moving average of $4.70 and a 200-day simple moving average of $6.85. The company has a market capitalization of $760.35 million, a price-to-earnings ratio of -0.80 and a beta of 0.45.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The firm had revenue of $3.50 million for the quarter. On average, research analysts forecast that Kodiak AI, Inc. will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new stake in shares of Kodiak AI in the 3rd quarter worth about $36,000. Parkside Financial Bank & Trust bought a new position in shares of Kodiak AI during the fourth quarter worth about $44,000. Farther Finance Advisors LLC bought a new position in shares of Kodiak AI during the fourth quarter worth about $78,000. The Manufacturers Life Insurance Company acquired a new position in Kodiak AI in the second quarter worth about $103,000. Finally, Cannon Global Investment Management LLC acquired a new position in Kodiak AI in the first quarter worth about $119,000. 72.95% of the stock is owned by institutional investors and hedge funds.

About Kodiak AI

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.